Why is Toyota Europe using Twitter

Some time ago, Toyota Europe opened an account on Twitter, the rising microblogging platform which registers more than 30 millions users in the world. The car manufacturer is not the first corporation to start a presence on the online social networks. Though, today, only a minority of companies are already active on social medias.

Colin Hensley, Corporate Affairs and Planning General Manager of Toyota Europe, explains the motivations of Toyota in this video interview, recorded at an event organised by the IABC and ZN in Brussels.

“We were looking at different ways to engage with our stakeholders, with our customers, says Colin Hensley. We thought it was a good time to start with social medias”.

“Our colleagues in North America had quite a positive experience already on Twitter (…) The experience was positive because, via the followers and the followings, we could see who is interested by what we are saying”.

Journalist and NGO’s are on Twitter

So far, those people interested are (mostly) journalists and NGO’s, underlines to Colin Hensley. Sure, due to the tiny cost of communication, NGO’s are actively using social networks to get their message out.

“Another advantage of Twitter is that it is very quick. And we have to be very succinct. It’s a very good process to go through”.

In the future, there will be a growing demand for ressources to be dedicated to the engagement process on social networks, predicts the corporate affairs manager of Toyota Europe.

The process is “time consuming” as it goes with one to one engagement. But the cost can be balanced with less paper and more online content, adds Colin Hensley.

The message on the corporate blog becomes a bit different

Besides, Toyota Europe is also actively blogging. The message is not always the same as in other official forms of communication.

“We are making it more personal”, says Colin Hensley

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Why is Toyota Europe using Twitter as a communication tool

“Reputation and attention will be new currencies. Not only in the web world”

« Money is just a value carrier among others. Today, reputation and attention are new currencies that can be used to be paid or rewarded. Those new currencies can bootstrap new business models” .

Wait a minute… Do you mean no more euro, dollar or franc to exchange goods and services ? No more central banks ?

Such a statement, a few years ago, would have trigger a wave of smiles on the face of the business community. Today, however, Nick De Mey, young founder of the advising company Board of Innovation, could rather get some eyebrowns lifted. In those disruptive times, when even the highest monuments can collapse overnight, fresh ideas and proposition are most welcomed.

Right, reputation and attention have long be mentioned, already, in books and articles regarding emerging business models on the web (have a look at this piece written in 1997, 12 years ago). Though, tells Nick De Mey, attention and reputation won’t be currencies worth only in the web startups world.

The Brick & Mortar markets, manufacturing, should be prepared, soon, to use that kind of immaterials to trade with customers and suppliers. And monetize new activities

Design thinking for startups

What is good with innovation is that it pursues world changing goals (by John Kao)